NIPPON EXPRESS PAN EUROPEANFREIGHT FORWARDERS COMMERCIAL CARGOINSURANCE POLICY

Open Cover Policy No.

NEEU-C-2019-01

Policyholder:

Nippon Express Europe GmbHMarie-Bernays-Ring 23a,
D-41199 Mönchengladbach

Assured:Customers of the Policyholder and/or its subsidiaries as per
section 26 for which they receive instructions to insure prior to
shipment (for third-party account)Insured Goods:

Goods and/or Merchandise of every description incidental to the
Assured´s business as may be declared, the property of the
Assured or for which the Policyholder and/or Co-Policyholder
have or assume a responsibility to insure, whether contractuallyor otherwise, or for which they receive instructions to insure
prior to shipment or prior to known or reported loss or accident(for third-party account), excluding Goods and/or Merchandise
as per section 3.1.1

Means of Conveyance:

Approved Vessels and/or Aircraft and/or Post and/or Rail and/orRoad conveyances including transhipment, if applicable
Vessels subject to Institute Classification Clause 01/01/2001(Clause N° 354) are held covered at premium to be agreed.

Voyages/Storage:

From and to all place(s) in the world excluding those countries
as per section 7.

Maximum Limits:

As per Page 24 “Limits of Liability”

Conditions:

As per Page 7 “Basis of Contract”

Period of Insurance:

From 1st January 2019 to 31st December 2019- both days included

Underwriters:

SI Insurance (Europe), SA
Zweigniederlassung Deutschland
Niederkasseler Lohweg 18, D-40547 Düsseldorf

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Table of Contents
1.

Preamble........................................................................................................................... 6

2.

Basis of Contract ............................................................................................................... 7

3.

Coverage .......................................................................................................................... 8

3.1

Goods &/or Merchandise with Special Attention ................................................................ 8

3.2

Special Extension Clause for ICC (B) (1/1/09) ................................................................... 9

3.3

Special Extension Clause for ICC (C) (1/1/09)................................................................... 9

3.4

Special Piracy Clause ....................................................................................................... 9

3.5

Special Clause for Air Cargo with Named Peril Extension ............................................... 10

3.6

Risk Attachment Clauses (INCOTERMS) ........................................................................ 10

3.7

Mail and Parcel Post Clauses .......................................................................................... 11

3.8

Deleted............................................................................................................................ 11

3.9

Duty Clause..................................................................................................................... 12

3.10 Special Clause for Containerised Cargo .......................................................................... 12
3.11 Institute Theft, Pilferage and Non-Delivery Clause .......................................................... 12
3.12 Institute Malicious Damage Clause ................................................................................. 12
3.13 On-Deck Clause (applying to imported cargo) ................................................................. 13
3.14 Open-Yard Storage Clause (applying to imported cargo) ................................................ 13
3.15 Special Container Clause ................................................................................................ 13
3.16 Breakup Vessel Clause ................................................................................................... 13
3.17 Special Capture & Seizure Clause .................................................................................. 13
3.18 Pairs and Set Clause....................................................................................................... 14
3.19 Used &/or Secondhand Goods Clause ............................................................................ 14
3.20 Label Clause ................................................................................................................... 14
3.21 Special Painting and Replacement Clause ...................................................................... 14
3.22 Warranty for Refrigerated (Chilled) Cargo ....................................................................... 15
3.23 Standard Packing Clause ................................................................................................ 15
3.24 Special Clause for Re-Packing Charge ........................................................................... 15
3.25 Special Salvage and Debris Removal Clause.................................................................. 15
3.26 Special Replacement Clause .......................................................................................... 15
3.27 Special Clause for Inspection .......................................................................................... 16
3.28 Special Airfreight Cover Clause ....................................................................................... 16
3.29 Special Forwarding Charge Clause ................................................................................. 16
3.30 Special Non-Delivery Clause for Containerized Cargo .................................................... 16
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3.31 Special Clause for Concealed Damage ........................................................................... 17
3.32 Special Transit Clause (Installation) ................................................................................ 173.33 Special Clause for Musical Instruments ........................................................................... 173.34 Special Clause for Fine Art and Antiques ........................................................................ 18
3.35 Mechanical Electrical and Electronic Derangement Exclusion Clause ............................. 18
3.36 Special Clause for Vehicles ............................................................................................. 18
4.

Special Clauses for Insurance of Stock ........................................................................... 18

5.

Basis of Valuation ........................................................................................................... 19

6.

Exclusions ....................................................................................................................... 19

6.1

Wild Fauna and Flora Clause .......................................................................................... 19

6.2

Cargo ISM Endorsement ................................................................................................. 20

6.3

Quarantine Clause (applying to imported cargo) ............................................................. 20

6.4

Electronic Date Recognition Exclusion Clause ................................................................ 21

6.5

Institute Dangerous Drugs Clause ................................................................................... 21

7.

Excluded Territories Clause ............................................................................................ 22

8.

Certificate of Insurance ................................................................................................... 22

9.

Declaration Clause .......................................................................................................... 22

10.

Payment of Premium Clause ........................................................................................... 22

11.

Cancellation .................................................................................................................... 23

12.

Letter of Credit Clause .................................................................................................... 24

13.

Warranty for Loss before Insurance Declaration .............................................................. 24

14.

Waiver of Subrogation Clause ......................................................................................... 24

15.

Subrogation Clause (only applying to the ownership of the subject-matter insured) ........ 24

16.

Alteration of Conditions ................................................................................................... 24

17.

Error and Omission Clause ............................................................................................. 25

18.

Increased Value .............................................................................................................. 25

19.

Disclosure ....................................................................................................................... 25

20.

Foreign Currency Obligation............................................................................................ 25

21.

Rates............................................................................................................................... 25

22.

Endorsements, Replacement Pages, Notifications etc. ................................................... 25

23.

Data Protection Clause ................................................................................................... 26

24.

Place of Jurisdiction ........................................................................................................ 26

25.

Limits of Liability .............................................................................................................. 27

25.1 Maximum per Certificate.................................................................................................. 27
25.2 Maximum per storage location ........................................................................................ 27
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25.3 Limit of Liability Clause .................................................................................................... 27
26.

List of subsidiaries ........................................................................................................... 27

27.

Subsidiaries covered locally ............................................................................................ 27

28.

Subscription List .............................................................................................................. 28

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1.

PreambleThis Pan European Freight Forwarders Commercial Cargo Insurance Policy
No. NEEU-CC-2019-01
entered between
Nippon Express (Europe) GmbH(hereinafter referred to as the “Policyholder”) of the one part,and
SI Insurance (Europe), SA(hereinafter referred to as the „Underwriters“) of the other part,is subject to the following terms and conditions which the Policyholder and the Underwriters
hereby declare to have fully agreed upon.
This Pan European Freight Forwarders Commercial Cargo Insurance is effected to insuretransports and storage as specified herein to be made on and after January 1, 2019 by orfor third-party account for which the Policyholder and / or its subsidiaries assume a
responsibility to insure, whether contractual or otherwise, or for which the Policyholder
and/or its subsidiaries receive instructions to insure, subject to the terms and conditions of
the written conditions attached hereto.

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2.

Basis of Contract
Unless otherwise provided for in the agreements under this Open Contract,
the following conditions and clauses apply (see attachments):
Institute Cargo Clauses (A) 1/1/09
Institute Cargo Clauses (B) 1/109
Institute Cargo Clauses (C) 1/1/09
Institute Cargo Clauses (Air) (excluding sendings by Post) (1/1/09)
Institute War Clauses (Cargo) 1/1/09
Institute War Clauses (Air Cargo) (excluding sendings per Post) 1/1/09
Institute War Clauses (sendings by Post) 1/3/09
Institute Strikes Clauses (Cargo) 1/1/09
Institute Strikes Clauses (Air Cargo) 1/1/09
Institute Replacement Clause 1/12/08
Institute Classification Clause 1/1/2001
Institute Radioactive Contamination, Chemical, Biological, Bio-Chemical andElectromagnetic Weapons Exclusion Clause 10/11/03
International Sanctions Clause
Termination of Transit Clause (Terrorism) 1/1/09
Institute Cyber Attack Exclusion Clause 10/11/03

In case of variations of conditions and clauses, written conditions prevail the standard
clauses mentioned immediately above.

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3.

Coverage

3.1

Goods &/or Merchandise with Special Attention
Goods and/or Merchandises hereinafter listed, for which the Policyholder Nippon Express
Europe GmbH receive instructions to insure or assume the responsibility to insure, require
special attention prior to inception of risk:

3.1.1 Excluded Cargo
Goods &/or Merchandise hereinafter listed cannot be covered(1) Weapons, Arms, Explosives, Missiles ,Grenades, and ammunition including
components for these items and the like(2) Equipment such as ground vehicles, with the Military and Policing constituent
components, body armour, helmets and the like(3) Dangerous goods designed for execution, torture and the like(4) Dangerous Drugs according to law on narcotics(5) Nuclear energy or other ionising radiation(6) Nuclear Fuels, Radioactive Materials(7) Scrap, Salvage and Waste related cargo
3.1.2 Underwriters Authorisation prior to Inception of Risk
The Policyholder is not authorised to provide insurance for the following Goods and/or
Merchandise such as but not limited to the below mentioned without prior agreement of theUnderwriters prior to inception of risk:(1) Live Animals and Live Stocks(2) Bulk Chemicals(3) Cash, Securities or other negotiable documents, Banknotes, Bonds, Credit Cards,
Jewellery & Pearls, Precious Stones, Precious Metals, Coins, Gems, Shares, Valuable
papers, Deeds, Certificates, Furs, Gemstones, Manuscripts, Documents and Plans(4) Plant Machineries(5) Iron & Steel, Wire & Cables(6) Fine Arts, Antiques, Carpets, Musical Instruments and similar high valued goods which
exceeds 250.000,00 EUR per any one certificate(9) Pleasure Boats, Yachts, Motor Boats(10) All Refrigerated Cargoes (e.g. Pharmaceutical Products, Frozen and Perishable Foods)(11) All Cargo which exceeds 1.500.000,00 EUR (or equivalent in other currencies) per any
one certificate(12) Container Itself
General Cargo, New Machinery, Electric Goods (Computer and PC) and Fragile Goods not
mentioned and/or not similar to the Goods and/or Merchandise mentioned above must not
be authorised by the Underwriters prior to inception of Risk.

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3.2

Special Extension Clause for ICC (B) (1/1/09)
In case of insurance on “Institute Cargo Clauses (B) (1/1/09) conditions, it is specially
understood and agreed that this insurance shall be deemed to extend to cover loss of ordamage to the subject-matter insured caused by heavy weather.
Subject always to the terms, conditions, limits and exclusions contained elsewhere in thispolicy.

3.3

Special Extension Clause for ICC (C) (1/1/09)
In case of insurance on “Institute Cargo Clauses (C) (1/1/09) conditions, it is specially
understood and agreed that this insurance shall be deemed to extend to cover followings:(1) total loss of the subject-matter insured caused by washing overboard(2) total loss of any package lost overboard or dropped whilst loading on to, or unloading
from, vessel or craft(3) total loss of the subject-matter insured caused by entry of sea lake or river water orplace of storage(4) total loss of the subject-matter insured caused by heavy weather
Subject always to the terms, conditions, limits and exclusions contained elsewhere in thispolicy.

3.4

Special Piracy Clause
In case the basic condition is Institute Cargo Clauses (B) or Institute Cargo Clauses (C), it
is hereby agreed that the Article 6.2 of that clauses should be deleted and replaced by the
Article 6.2 of Institute Cargo Clauses (A) and further that this insurance covers loss of ordamage to the subject-matter insured caused by piracy, subject always to the otherexclusions contained in this insurance.

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3.5

Special Clause for Air Cargo with Named Peril Extension
In case of insurance on “Named Perils” conditions, the following clause shall be applied inplace of clause 1 of the Institute Cargo Clauses (Air) (excluding sendings by Post)
incorporated herein.
This insurance covers, except as excluded in clause 3,4 and 5 of the Institute Cargo
Clauses (Air) (excluding sendings by Post)
1
1.1
1.2

loss of or damage to the subject-matter insured reasonably attributed tofire or explosion or lightningaircraft crash and/or aircraft impact, forced or crashed landing caused by engine
and/or air pressure trouble or electrical and/or mechanical breakdown in flight
1.3 overturning or derailment of land conveyance
1.4.2 collision or contact of aircraft with any external object other than a runway
1.4.3 collision or contact of vessel craft or conveyance with any external object otherthan water
1.5 vessel or craft being stranded grounded sunk or capsized
1.6 discharge of cargo at a port and/or an airport of distress,
2
loss of or damage to the subject-matter insured caused by
2.1 general average sacrifice
2.2 jettison and overboard
2.3 entry or sea lake or river water into any conveyances container or place ofstorage3
total loss of any package lost dropped whilst loading on to or unloading fromaircraft or vessel.
Subject always to the terms, conditions, limits and exclusions contained elsewhere in thispolicy.
3.6

Risk Attachment Clauses (INCOTERMS)

3.6.1 F.O.B. Attachment ClauseNotwithstanding anything contained herein to the contrary, the risks covered hereundershall not attach to the interest hereby insured prior to being on board the overseas vessel at
the port of shipment.
In case, however, the assureds have to bear the risks of the interest hereby insured, under
their F.O.B. or C. & F. contract with the shipper, from the time when it has effectively
passed the rail of the overseas vessel at the port of shipment, the risks covered hereundershall attach from that time.
3.6.2 FOB Airport Attachment ClauseNotwithstanding anything contained herein to the contrary (excepting coverage against War
Risks), it is understood and agreed that this insurance shall not attach until such time as the
goods have been delivered, at the place named in the policy, into the charge of the air
carrier or his agent or any other person named by the buyer, or, if no air carrier, agent orother person has been so named, of an air carrier or his agent chosen by the seller.

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3.6.3 F.A.S. Attachment ClauseNotwithstanding anything contained herein to the contrary, the risks covered hereundershall not attach until the title of the interest hereby insured is duly vested in the assured
alongside the overseas vessel at the port of shipment under their F.A.S. contract with theshipper.
3.6.4 Free Carrier Attachment ClauseNotwithstanding anything contained herein to the contrary (excepting coverage against War
Risks), it is understood and agreed that this insurance shall not attach to the interest hereby
insured prior to being delivered into the charge of or the custody of the carrier at the point orplace named in the policy for the commencement of the transit.
3.7

Mail and Parcel Post Clauses
1. Notwithstanding anything to the contrary contained in the Institute Cargo Clauses andInstitute Strikes Clauses, this insurance attaches only as the subject-matter insured and as
to any part as that part is first moved in the premises of the senders at the place named in
the contract of insurance for the immediate commencement of the transit and continues,
until the subject-matter insured and as to any part as that part is delivered to the address on
the postal package(s) when this insurance shall terminate.
2. Notwithstanding anything contained herein to the contrary, it is specially understood andagreed as follows:(1) Warranted free from claim for loss or damage proved to be due to incorrect and/or
ambiguous and/or insufficient description of the address on the package and also forloss or damage resulting from any disposal by the Postal Authorities by reason of theinterest having become undeliverable to, or having been unaccepted by, theaddressees.
(2) No claim for pilferage to be admitted if package be delivered with seals intact.
(3) Post Office Receipt for the Mail and/or Parcel Post will be required as proof in case ofclaim.
(4) In case of loss, claim in the form of an affidavit must be immediately filed against theGovernment (Postal Service), and a copy thereof and of the reply thereto must
accompany any claim presented under this policy.

3.8

Deleted

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3.9

Duty Clause
To pay partial loss sustained on duty imposed on the goods insured hereunder, by reasonof the perils insured against, but subject to the policy terms of average; also to pay total
loss if the goods are totally lost in accordance with the policy terms after the duty is paid.
In case of the insured amount of duty stated herein being in excess of the full amount of
duty imposed on the goods insured hereunder according to the relevant regulations when
they arrive at the final port of discharge named herein in sound condition, this Company’s
liability shall not exceed the amount of actual loss of duty.
In case of the insured amount of duty stated herein being less than the full amount of duty
mentioned above, this Company’s liability shall not exceed such proportion of the loss
sustained on duty as the former bears to the latter.
The Assured shall, when this Company so elects, surrender the goods to the Customs
Authorities and avoid duty payment, and in case of any reduction in duty the amount so
reduced shall be deducted in settling any loss for which this Company may be liable.

3.10

Special Clause for Containerised Cargo
In case of the interest hereby insured or any part thereof being packed in dry vancontainers, the original conditions stated herein shall apply if the container is loaded ondeck or temporarily stored in open yards at the port of landing or customs clearance orother places named herein.
It is hereby specially understood and agreed that this Open Contract covers loss and/or
non-delivery, howsoever caused, or package(s) and/or content(s) packed into and carriedby container(s).
Such loss and/or non-delivery shall be ascertained by comparison of the numbers of
packages and/or contents thereof shown in the shippers’ commercial invoice with those
duly evidenced at the time of devanning at the port of discharge or at the consignee’s final
warehouse.

3.11

Institute Theft, Pilferage and Non-Delivery Clause
In consideration of an additional premium, it is hereby agreed that this insurance covers
loss of or damage to the subject-matter insured caused by theft or pilferage, or by nondelivery of an entire package, subject always to the exclusions contained in this insurance.

3.12

Institute Malicious Damage Clause
In consideration of an additional premium, it is hereby agreed that the exclusion “deliberate
damage to or deliberate destruction of the subject-matter insured or any part thereof by thewrongful act of any person or persons” is deemed to be deleted and further that thisinsurance covers loss of or damage to the subject-matter insured caused by malicious acts
vandalism or sabotage, subject always to the other exclusions contained in this insurance.

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3.13

On-Deck Clause (applying to imported cargo)
Notwithstanding anything contained herein to the contrary, it is specially understood andagreed that in the event of the subject-matter insured or any part thereof being carried on
deck, whether by the exercise of a liberty granted to shipowners or charterers under thecontract of affreightment or not, the conditions (only applying to the original condition isbroader than Institute Cargo Clauses (B)) on such deckload shall be subject to Institute
Cargo Clauses (C), including the risks of Washing Overboard, as from the commencementof this insurance.
In case, however, the assured prove that the loss of or damage to the subject-matterinsured was occurred during the insured period before loading on board the vessel or after
completion of discharge from the vessel, the original condition would be applied.
(for the purpose of this clause, Clause 4.7 of Institute Cargo Clauses (C) shall be deemed
to be deleted in case of the original condition not excluding deliberate damage to or
deliberate destruction of the subject-matter insured or any part thereof by the wrongful actof any person or persons in the said clause)

3.14

Open-Yard Storage Clause (applying to imported cargo)
Notwithstanding anything contained herein to the contrary, it is specially understood andagreed that in the event of the subject-matter insured or any part thereof being stored in the
open-yard at the port of landing named in the policy, this Company’s liability for such
subject-matter insured shall be subject to Institute Cargo Clauses (C) so long as they are sostored, provided, however, that the foregoing shall not apply in case of the Assured having
given a previous notice of such storage to this Company and agreed to pay an additional
premium required. (for the purpose of this clause, Clause 4.7 of Institute Cargo Clauses (C)shall be deemed to be deleted in case of the original condition not excluding deliberate
damage to or deliberate destruction of the subject-matter insured or any part thereof by thewrongful act of any person or persons in the said clause）

3.15

Special Container ClauseNotwithstanding the provisions of the ON-DECK CLAUSE and the OPEN-YARD STORAGE
CLAUSE contained herein, it is specially understood and agreed that in case of the goods
hereby insured or any part thereof being packed in dry container (closed van type metal,
FRP containers) under the Bill of Lading containing Optional Stowage Clause, the original
conditions stated herein shall be applied even if the insured goods are carried on deck orstored in open yards.

3.16

Breakup Vessel Clause
It is understood and agreed that the conditions specified herein and the rate already quoted
for the shipment insured hereunder shall be subject to alteration in case where it has
already been decided before sailing that the carrying vessel will be broken up.

3.17

Special Capture & Seizure ClauseNotwithstanding anything contained in the Clause 1 of Institute War Clauses, this insurance
covers, except as excluded by the provisions of Clauses 3 and 4 of that Clauses, loss of ordamage to the subject-matter insured caused by “capture seizure arrest restraint or
detainment and the consequences thereof or any attempt thereat.

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3.18

Pairs and Set ClauseIn the event of loss or damage to (a) any article or articles which are part of a pair or set, themeasure of loss of or damage to such article or articles shall be a reasonable and fair
proportion of the total value of the pair or set, but in no event shall such loss or damage be
construed to mean total loss of the pair or set; (b) machinery, equipment, computers or any
other electronic equipment consisting of several parts, this Policy is only liable for the valueof part(s) lost or damaged.

3.19

Used &/or Secondhand Goods ClauseNotwithstanding anything contained herein to the contrary, it is specially understood andagreed that in case of the interest hereby insured or any part thereof being used &/or
secondhand goods, the conditions on such used &/or secondhand goods shall be Institute
Cargo Clauses (C), including the risk of Theft, Pilferage and Non-Delivery [Subject toInstitute Theft, Pilferage and Non-Delivery (Insured Value) Clause]” as from thecommencement of this insurance.
Provided however, that in case of the original conditions not covering the Theft, Pilferage
and Non-Delivery risks, the conditions on the used &/or secondhand goods shall be“Institute Cargo Clauses (C)” only.
(for the purpose of this clause, Clause 4.7 of Institute Cargo Clauses (C) shall be deemed
to be deleted in case of the original condition not excluding deliberate damage to or
deliberate destruction of the subject-matter insured or any part thereof by the wrongful actof any person or persons in the said clause)
2. The above provision shall not apply in case of the Assured having given this Company aprevious notice of the interest hereby insured or any part thereof being used &/or
secondhand goods and agreed to pay an additional premium required.

3.20

Label Clause
In case of damage from perils insured against affecting labels only, loss to be limited to an
amount sufficient to pay the cost of reconditioning, cost of new labels and relabelling thegoods, provided the damage will have amounted to a claim under the terms of the policy.

3.21

Special Painting and Replacement Clause
It is understood and agreed that repainting fees shall be restricted only to the part whereloss or damage suffered are caused by perils insured against.
In no case repainting fee covered includes the repainting of the entire body for reasons ofaesthetic purposes.
And it is also understood and agreed that in case of repair or replacement, the cost coveredby this company should be restricted to the cost of repair on the part directly damaged byperils insured against.

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3.22

Warranty for Refrigerated (Chilled) Cargo
In case the cargoes are chilled ones, the word in parentheses is applied.
Notwithstanding anything to the contrary contained herein, it is a warranty of this insurance
that:(1) The goods are in sound condition and properly prepared, packed and frozen (chilled) at
the time of attachment of the insurance.
(2) The Assured shall take all precautions to ensure that the goods are kept in refrigerated(chilled) or insulated space during the currency of the policy except during actualloading or unloading operations.
(3) On discovery by the Assured, his servants or agents of any loss of, deterioration of ordamage to any part of the goods immediate notice shall be given to Underwriters. In nocase shall any claim be recoverable hereunder where notice is given to Underwriters
more than 30 days after the termination of the insurance.
(4) Claim against the carrier shall be immediately filed in writing, a copy of which must
accompany any claim presented under this insurance.

3.23

Standard Packing Clause
In case of loss or damage to the goods hereby insured, the Underwriters shall not decline
any claim by reason of insufficient packing of the goods, so long as such packing shall be inaccordance with the Standard packing admitted by the expert of packing.

3.24

Special Clause for Re-Packing Charge
In case of loss or of damage to the package, carton or the like of the goods hereby insured,
the sum recoverable shall include the actual cost for re-packing.
Provided always that in no case shall the liability of the Underwriters exceed the insured
value of the goods hereby insured.

3.25

Special Salvage and Debris Removal Clause
Costs of clearing up, cartage, destruction and fire extinguishing on the occasion ofindemnifiable damage shall be deemed insured at “first risk" insofar as they are notindemnifiable elsewhere. Underwriters' liability is limited to 30% of the sum insured,
however, to a maximum of 50.000,00 EUR per means of conveyance / storage location andcase of damage insured against.
These costs shall be borne by Underwriters no matter whether such costs added to theotherwise due indemnity proper would exceed the sum insured.

3.26

Special Replacement Clause
In case of a loss of or damage to any part or parts of goods hereby insured caused by aperil covered by this Open Contract, the sum recoverable shall not exceed the cost of
replacement or repair of such part or parts plus charges for forwarding (irrespective of
conveyance) and refitting, if incurred, including duty, if imposed.
Provided always that in no case shall the liability of the Underwriters exceed 130% of suchthe amount insured of each complete machine hereby insured which sustained such loss ordamage.

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3.27

Special Clause for Inspection
In case an accident should occur during the tenure of this insurance and there should be
the possibility of loss or damage covered by the Policy, the Insurer shall be liable for any
inspection &/or survey fees and charges incurred from such accident irrespective of actual
loss or damage, provided that the inspector &/or surveyor duly authorized by the Insurer
shall regard the inspection of the subject-matter insured as appropriate and reasonable.
The recoverable amount under this clause shall be limited to 3.000.000,00 JPY (orequivalent in other currencies) or 30% of the amount insured per any one policy, whichever
shall be the lower.

3.28

Special Airfreight Cover Clause
If the Assured has good or reasonable reason to suppose that any part or parts of subjectmatter insured has suffered loss or damage caused by a peril covered by this policy fromthe external appearance of the subject-matter insured &/or package at the time of theirarrival at destination, this policy covers the charges for forwarding of substitute cargoes todestination named in the policy (including airfreight, cost of custom clearance andrelatives), duty if imposed.
It is necessary for the Assured to obtain a consensus from this Company prior to substituteshipment.
The recoverable amount under this clause shall be limited to 3.000.000,00 JPY (orequivalent in other currencies) or 30% of the amount insured per any one accident,
whichever shall be the lower.

3.29

Special Forwarding Charge Clause
If the Assured has good or reasonable reason to suppose that any part or parts of subjectmatter insured has suffered loss or damage caused by a peril covered by this policy fromthe external appearance of the subject-matter insured &/or package at the time of theirarrival at destination, this policy covers the charges for forwarding to export &/or substitutecountry and subsequently to re-send them to the consignee. This charges include airfreight,
cost of custom clearance and relatives, duty if imposed.
It is necessary for the Assured to obtain a consensus from this Company prior to shipment
to export &/or substitute country.
The recoverable amount under this clause shall be limited to 3.000.000,00 JPY (orequivalent in other currencies) or 30% of the amount insured per any one accident,
whichever shall be the lower.

3.30

Special Non-Delivery Clause for Containerized Cargo
It is hereby understood and agreed that this insurance is also to cover the risks of missing
and/or non-delivery of an entire package carried in containers, for not exceeding
3.000.000,00 JPY (or equivalent in other currencies) per one container.
Such missing and/or non-delivery shall be ascertained in comparison of the number ofpackage(s) shown in the Shipper's &/or supplier's invoice &/or packing list with those ofevidenced at the time of devanning at the port of discharge or at the consignee's final
warehouse named in the contract of insurance.

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3.31

Special Clause for Concealed Damage
It is specially understood and agreed that this insurance shall be specially extended tocover loss or damage to the subject-matter insured caused by a peril covered by thisinsurance, even though such loss or damage is discovered at the time of unpacking of thesubject-matter insured at the destination after this insurance has already expired.
Provided always that such concealed loss or damage be substantiated to have occurred
during the tenure of this insurance.
No liability for loss or damage to be payable hereby unless notice has been given to thisCompany's Agents within 180 days of the expiry of this insurance.

3.32

Special Transit Clause (Installation)
Notwithstanding anything contained herein to the contrary (particularly the Transit Clause of
the Institute Cargo Clauses), this insurance (excepting coverage against War Risks,
earthquake in Japan &/or California, USA) shall continue, until the installation of thesubject-matter insured is completed or until the expiry of 60 days counting from midnight ofthe day on which the subject-matter insured is completely unloaded from the carrying
vehicle or other conveyance in or at the said place whichever shall first occur.
In no case, however, shall the period of cover after completion of discharge overside of thesubject-matter insured from the oversea vessel (or unloading of the goods from the aircraft)at the final port (or airport) of discharge extend beyond 90 days.

3.33

Special Clause for Musical Instruments
Notwithstanding anything contained herein to the contrary, it is understood and agreed that
this policy does not cover any loss, damage or expense due to out of tune, looseness ofstrings and natural disorder in actions occurring to the musical instrument hereby insured.
In the event of loss of or damage to Musical Instruments hereby insured caused by perils
covered by this policy, this company shall pay only the cost of repair actually incurred.
Provided always that in no case shall this company be liable for;(1) any depreciation in value due to loss or damage caused by perils covered by thispolicy.
(2) any loss or damage due to weather conditions and/or atmospheric phenomena (suchas moisture conditions and/or temperature).
The liability of this company shall not exceed the insured value of such goods being
damaged.

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3.34

Special Clause for Fine Art and Antiques
In the event of loss of or damage to fine art, antiques or similar goods hereby insuredcaused by perils covered by this policy, this company shall pay only the cost of repair
actually incurred. Provided always that in no case shall this company be liable for:(1) any depreciation in value due to loss or damage caused by perils covered by thispolicy.
(2) any loss or damage due to weather conditions and/or atmospheric phenomena (suchas moisture conditions and/or temperature).
The liability of this company shall not exceed the actual value of the damaged goods at thetime and place of arrival or the insured value of the damaged goods as described in thepacking or insurance list, whichever shall be lower.

3.35

Mechanical Electrical and Electronic Derangement Exclusion ClauseExcluding Mechanical, Electrical and/or Electronic Derangement unless caused by a peril
insured against.
In case where items are not otherwise damaged, no liability will attach hereunder for the
non-functioning of any mechanical or electrical device

3.36

Special Clause for Vehicles
Excluding scratching, chipping, denting, bruising and repainting.
On deck shipments excluding sea water damage.
Warranted no road risk whilst under own power except when loading and unloading.
Excluding loss of tools and accessories unless stolen with the vehicle.
Excluding mechanical derangement unless causes by external impact to the vehicle.

4.

Special Clauses for Insurance of Stock
The insured warehouses mentioned at the written condition under schedule of insurance
must be suitable for the storage of the insured goods. Loss of or damage to the insured
goods located in buildings or parts of buildings that are not ready for occupancy are
generally excluded from coverage.
The risks of flood and deluge are excluded from the coverage for any of the named storage
locations, which are situated(1) In Amsterdam (Holland area, postal code 10,11,14,20,21)(2) In Rotterdam (Zuid Holland area, postal code 25 to 33)(3) Below NAP (Normal Amsterdam Ordnance Lebel) + 1 meter(4) Within 10 km from the River Maas or the River Waal
Unexplained or mysterious disappearance, or loss or shortage disclosed upon taking
inventory are not included under this cover.
No claim to attach hereto for loss and/or damage to property hereby insured may besustained whilst the same is in use and/or whilst being worked upon and directly resulting
therefrom

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Restacking and other handling of the insured goods such as sorting, numbering, packing,refilling, drawing off into smaller containers etc. within a warehouse during the insured
period are always insured.
Goods stored in the open air are insured against fire only unless otherwise agreed.
Re-stacking and other handling of the goods such as sorting, numbering, packing, refilling,drawing off into smaller containers etc. within a warehouse during the insured period arealways insured.
Other conditions to be agreed prior to inception of risk.”

5.

Basis of Valuation

5.1

Invoice Value (freight and other charges to be added, if not included therein) plus ten percent (10%) unless otherwise agreed by the Underwriters prior to attachment of the risk.

5.2

For Goods &/or Merchandise without Commercial Invoice
Fair market value of the goods or, failing that, their market value at the place of departure atcommencement of cover plus the cost of insurance, the costs incurred until the goods aredelivered to the carrier, and the freight ultimately paid.

6.

Exclusions

6.1

Wild Fauna and Flora Clause
It is understood and agreed that
(1) no claim will be paid unless the trades of the goods covered hereunder are lawful inthe light of any rules, regulations and/or laws enforced in compliance with theConvention on International Trade in Endangered Species of Wild Fauna and Flora(CITES, so-called “Washington Convention”) in each country of origin, export, re-export
or import,(2) the assured, if required by this Company, shall submit certificates, permits, vouchers
and/or other documents showing that the trades are not inconsistent with the above
rules, regulations and/or laws,
and(3) this Company shall have the right to investigate facts and legality in respect of the
trades in case of claims being presented.

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6.2

Cargo ISM Endorsement
Applicable to shipments on board Ro-Ro passenger ferries.
Applicable with effect from 1 July 1998 to shipments on board:
1)
2)

passenger vessels transporting more than 12 passengers andoil tankers, chemical tankers, gas carriers, bulk carriers and cargo high speed craft of
500 gt or more.

Applicable with effect from 1 July 2002 to shipments on board all other cargo ships andmobile offshore drilling units of 500 gt or more.
In no case shall this insurance cover loss, damage or expense where the subject matterinsured is carried by a vessel that is not ISM Code certified or whose owners or operators
do not hold an ISM Code Document of Compliance when, at the time of loading of thesubject matter insured on board the vessel, the Assured were aware, or in the ordinary
course of business should have been aware:a)b)

Either that such vessel was not certified in accordance with the ISM Code.
Or that a current Document of Compliance was not held by her owners or operators
as required under the SOLAS Convention 1974 as amended.

This exclusion shall not apply where this insurance has been assigned to the party claiming
hereunder who has bought or agreed to buy the subject matter insured in good faith undera binding contract.
6.3

Quarantine Clause (applying to imported cargo)
Notwithstanding anything contained in the Institute Cargo Clauses and/or the Institute War
Clauses incorporated herein, this policy is warranted free from any claim for either,(1) loss, damage or expense due to quarantine or other similar regulations causing or
resulting in seizure, arrest, restraint, detainment, rejection or destruction, or(2) loss, damage or expense caused by the interest being infected with harmful bacteria orother similar microorganisms unless such loss, damage or expense is attributable tocontact of the interest with sea water, rain or fresh water, or derangement or
breakdown of the refrigerating plant (including refrigerating machinery and insulation)or stoppage of the refrigerating machinery.

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6.4

Electronic Date Recognition Exclusion Clause
In no case shall this insurance cover any loss, damage, expense or liability of whatevernature which might otherwise be recoverable under this insurance arising out of or in any
way connected with, whether directly or indirectly, the use or operation of any computer,computer system, computer software, programme or process or any electronic system
where any such loss, damage, expense or liability arises, whether directly or indirectly, as aconsequence of (i) the date change to the year 2000 or any other date change and/or (ii)any change or modification of or to any such computer, computer system, computer
software, program or process or any electronic system in relation to any such date change.
This exclusion, however, does not apply to claims for loss of or damage to any subjectmatter insured caused by following risks (1), (2) and claims for loss of or damage to thesubject-matter insured (3):(1) fire or explosion(2) any risks whilst in transit(3) any subject matter insured other than temperature-controlled cargoes, money and/or
securities, fine arts, antiques, precious metals, jewelry and the like, semiconductors
and their relevant goods
Subject always to the terms, conditions, limits and exclusions contained elsewhere in thispolicy.

6.5

Institute Dangerous Drugs Clause
It is understood and agreed that no claim under this policy will be paid in respect of drugs towhich the various International Conventions relating to Opium and other dangerous drugs
apply unless(1) the drugs shall be expressly declared as such in the policy and the name of the country
from which, and the name of the country to which they are consigned shall be
specifically stated in the policyand(2) the proof of loss is accompanied either by a licence, certificate or authorization issued
by the Government of the country to which the drugs are consigned showing that theimportation of the consignment into that country has been approved by that
Government, or, alternatively, by a licence, certificate or authorization issued by theGovernment of the country from which the drugs are consigned showing that the exportof the consignment to the destination stated has been approved by that Government;
and(3)
the route by which the drugs were conveyed was usual and customary.

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7.

Excluded Territories Clause
It is hereby agreed that cover will not extend to transports subject to State or United Nations
Legislation and those geographical areas as listed as Elevated, High, or Severe in the
Global Cargo Watch List (GCWL)(http://watch.exclusive-analysis.com/jccwatchlist.html)
Notwithstanding the above, Underwriters will, however, consider reinstating cover subject tosatisfactory packing and security arrangements. This reinstatement of cover must be
negotiated on individual sendings prior to the commencement of transit and will be subject
to an additional premium to be agreed by Underwriters.

8.

Certificate of Insurance
The Policyholder will issue a certificate of Marine Insurance to the Assured. This confirms
and certifies that insurance in the name of the goods specified on the certificate, valued at
the amount insured, for the insured transit has been granted.

9.

Declaration Clause
The Policyholder shall make monthly declaration of each individual transport and storage
covered by the policy, giving details of the respective insured values. The declaration shalldetail the commodity, type of packaging, means of transport and route. The Policyholder
shall further disclose all circumstances that the Insurer has queried expressly.
Each and every Policy or Certificate of Insurance/Declaration issued under this Open
Contract is subject to the terms and conditions to this Open Contract, whether expressly sostated in the Policy or Certificate of Insurance or not, unless otherwise specially agreed by
the Underwriters.
Declaration shall be made within 30 days calculated from the end of the month where thetransport commenced.
It is, however, agreed that this Open Contract shall not be prejudiced by any omission of,error and/or delay in making declaration, except for those made intentionally or by grossnegligence, provided prompt notice is given to the Underwriters as soon as the saidomission, error and/or delay has become known to the Assured and subject to theadjustment of premium if and as required

10.

Payment of Premium ClausePremium shall be paid by the Policyholder immediately after receipt of the respective
statement of account from the underwriter.

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11.

Cancellation
This Open Contract will be automatically renewed for further 12 months unless notice ofcancellation has been given by either party concerned 3 (three) months prior to the date of
expiry.

11.1

This Open Contract may be cancelled in case of a claim by either party, the Policyholder or
Underwriters. The cancellation become effective 30 days after the date under which notice
has been given. Cancellation in case of a claim is only possible immediately after final
decision regarding settlement.

11.2

The cover against war risks and strikes, riots and civil commotions risks (as defined in therelevant Institute War Clauses and Institute Strikes Clauses) may be cancelled by either theUnderwriters or the Policyholder except in respect of any insurance which shall haveattached in accordance with the conditions of the Institute War Clauses and Institute Strikes
Clauses before the cancellation becomes effective.
War cover cancellation shall however only become effective on the expiry of 7 days frommidnight of the day on which notice of the cancellation is issued by or to the Underwriters.
Strikes, riots, civil commotions and terrorism cover (as defined in the relevant InstituteStrikes Clauses) shall however only become effective on the expiry of 2 days from midnightof the day on which notice of the cancellation is issued by or to the Underwriters.

11.3

Where this insurance covers piracy and/or general average, salvage and sue andlabour charges arising from piracy, such cover may be cancelled by insurers
giving 7 days’ notice in writing, cancellation to take effect on the expiry of 7 days (10 days inrespect of reinsurance) from midnight of the day on which the notice is issued by insurers.
Insurers agree to reinstate this coverage subject to agreement between Underwriters
and the Assured prior to the cancellation taking effect as to any new rate ofpremium and/or conditions and/or warranties. Such cancellation shall not affectany insurance which has attached before the cancellation takes effect.
If the cancellation is in relation to specific geographical areas, such areas will beclearly defined by Underwriters in the notice of cancellation.

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12.

Letter of Credit Clause
It is agreed that certificates and/or policies (including S.G. Policy form which is indicated“Policy Body”) may be issued hereunder to enable the Assured to comply with theinsurance requirements of any Letter of Credit and/or Sales Contract, such agreement
being conditional on the following wording being incorporated in such certificate and/or
policy.
“The following insurance conditions referred to in the Letter of Credit and/or Sales Contract
are noted”
The following should be considered to be inserted into the policy after any special
conditions required by Letter of Credit and/or Sales Contract wording:“But in no event is the cover herein extended wider than the terms of Institute Cargo
Clauses(A)(1/1/09)”
It is also agreed that regardless of the conditions on which any certificates and/or policies
may be issued pursuant to the foregoing, the Assured shall continue to enjoy the full
protection of this contract.

13.

Warranty for Loss before Insurance Declaration
Warranted free from any claim arising out of any loss or accident in case this Company
proves that the Policyholder, Nippon Express (Europe) GmbH, or their servants &/or
employee were aware of a loss or accident happened before the date of insurance
declaration.

14.

Waiver of Subrogation Clause
Underwriters shall waive the right of subrogation in respect of loss of or damage to thegoods hereby insured claimable hereon, if any, against Nippon Express (Europe) GmbHand all subsidiaries (including overseas subsidiaries) and associated companies andagents / sub-contractor of the aforementioned engaged in transportation of the goods
hereby insured (hereinafter called NEEU interest(s)), unless the loss or damage resulted
from an act or omission of NEEU interest(s) done with intent to cause loss or damage, or
recklessly and with knowledge that damage would probably result.

15.

Subrogation Clause (only applying to the ownership of thesubject-matter insured)
Where the is Company pays for a claim, this Company shall take over the right of theassured to claim to any liable party in respect of the subject-matter insured, provided
however that this Company shall not take over the ownership or the title of the subjectmatter insured or its any part(s) so paid for, unless otherwise declared by this Company.

16.

Alteration of Conditions
The Assured is allowed to declare risks under this Open Contract on conditions different
from those as generally applied. A suchlike declaration, however, has to be made prior to
the inception of risk.
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17.

Error and Omission Clause
It is, however, agreed that this Open Contract shall not be prejudiced by any omission of,error and/or delay in making declaration, except for those made intentionally or by grossnegligence, provided prompt notice is given to the Underwriters as soon as the saidomission, error and/or delay has become known to the Assured and subject to theadjustment of premium if and as required.

18.

Increased Value
Increased value might be insured by declaration immediately after the Assured becomesaware of the increase in value.

19.

Disclosure
There is a duty on the Assured to take reasonable care not to make a misrepresentation to
Underwriters in respect of this Policy. This means that it is very important that the
information the Assured provide to the Underwriters, is accurate and complete.
If it is not clear to the Assured whether or not something needs to be mentioned it is betterto mention it; likewise if some information that the Assured give may not be completely
correct, then the Assured should explain this. Failure to provide Underwriters with complete
and accurate information may mean that the Assured is not entitled to some or all of thebenefits provided by the Policy.

20.

Foreign Currency Obligation
If a money debt stated in a currency other than EURO is payable within the country, thenpayment may be made in EURO unless payment in the other currency has been expressly
agreed.
Conversion occurs at the rate of exchange in effect in the place of payment at the time of
payment.

21.

Rates
As per attached schedules or to be agreed prior to the inception of risk.

22.

Endorsements, Replacement Pages, Notifications etc.
Endorsements, replacement pages, notifications, information and premium agreements
concerning this Open Contract shall be deemed as an Integral part of this Open Contract.
Modifications enter into force on the date stated on the replacement pages.

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23.

Data Protection Clause
The Assured shall permit the Underwriters to pass data evolving from the application
documents or performance of the contract (contributions, insurance cases, alterations ofsuch re-insurance and their professional association and other underwriters for assessmentof the risk and claims.
The Assured shall also permit the Underwriters to hold general contract, settlement andliability data in (joint) data collections insofar as this serves the proper implementation of
insurance matters.

24.

Place of Jurisdiction
The place of jurisdiction shall be Düsseldorf, Germany.

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25.

Limits of Liability

25.1

Maximum per Certificate
Maximum Limit of Liability per any one certificate(transit and/or storage in transit)

25.2

25.3

26.

1.500.000,00 EUR

Maximum per storage location
Maximum Limit per any one storage location other thanstorage in transit

1.000.000,00 EUR

Limit of Liability ClauseNotwithstanding anything to the contrary contained in the Open Policy, the Underwriters
shall not be liable for more than the limit(s) specified in paragraph 25 immediately above,
unless a request is made by the Policyholder prior to the attachment of risk or before any
known or reported loss or accident for the increase of such limit(s) and the special
agreement is obtained from the Underwriters.

List of subsidiaries
Subsidiaries covered under this Pan-European Freight Forwarders Commercial Cargo
Insurance Policy are
Subsidiary

Country / Region Name
including its branches
Austria
Czech Republic
Germany
Hungary
PolandRomania
Germany
Belgium
Spain
FranceIreland
Italy
Nederland
United Kingdom

Nippon Express (Deutschland) GmbH

NEX Logistics Europe GmbH
Nippon Express (Belgium) N.V./S.A.
Nippon Express de Espana, S.A.
Nippon Express France, S.A.S.
Nippon Express (Ireland) Ltd.
Nippon Express (Italia), S.R.L.
Nippon Express (Nederland) B.V
Nippon Express (U.K.) Ltd.

27.

Subsidiaries covered locallySubsidiaries covered locally at a Group company and/or cooperation partner of
SI Insurance (Europe), SA
Subsidiary
Nippon Express (Schweiz) AG
Nippon Express (Middle East) L.L.C.

Country / Region Name
including its branches
Switzerland
United Arab Emirates

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28.

Subscription List
This insurance contract has been written in duplicate in Düsseldorf
In witness thereof, the Underwriters of Sompo Japan Nipponkoa Insurance Company ofEurope Limited on behalf of the said Company, have subscribed their names on the datewritten below.

UNDERWRITER
SI Insurance (Europe), SA
Zweigniederlassung Deutschland
Niederkasseler Lohweg 18
D-40547 Düsseldorf
PROPORTION: 100%

Düsseldorf,

Stamp and Signature

We, Nippon Express (Europe) GmbH, hereby declare that this Open Contract has been
made with our full knowledge and consent and that it shall be duly executed as prescribedand its terms faithfully complied with and in witness thereof, we the Undersigned havesubscribed our names on the date written below.

POLICYHOLDER
Nippon Express (Europe) GmbHMarie-Bernays-Ring 23a
D-41199 Mönchengladbach

Mönchengladbach,Nippon Express Europe GmbH – Head OfficeOpen Commercial Cargo Policy No. NEEU-C-2019-01

Stamp and Signature

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